Why do I need to provide information about an external wallet?

Article facts

What is an external wallet?

An external wallet is a crypto wallet or platform outside the custodial Quppy Crypto service.

It can be:

• your self-hosted wallet;
• another person’s self-hosted wallet;
• a centralised exchange;
• another custodial wallet provider;
• a merchant, payment or investment platform;
• another Quppy user’s separate account where supported.

The type matters because different information and provider obligations can apply.

What can Quppy ask me to confirm?

You can be asked:

• whether the wallet belongs to you or another person;
• legal name of the sender or beneficiary;
• relationship to the other person;
• purpose of the transfer;
• name of the external exchange or provider;
• country of the provider;
• wallet address;
• crypto-asset and blockchain network;
• transaction hash;
• amount and date;
• evidence of wallet ownership or control;
• source of funds;
• whether the transfer is connected with a business or third party.

The exact fields depend on the transfer and applicable requirements.

Why does wallet type matter?

Exchange or custodial provider

The provider can need to exchange Travel Rule information with the external CASP/VASP and confirm the receiving or sending institution.

Self-hosted wallet

The provider can need to understand who owns or controls the address and, in relevant cases, verify that relationship.

Another person’s wallet

The provider can need the person’s legal name, relationship and transfer purpose.

Selecting the wrong wallet type or owner can delay or prevent the transfer.

How can wallet ownership or control be checked?

The method depends on the provider, network and risk. Possible approved methods include:

• signed-message verification where supported;
• a small verification transaction;
• an in-app declaration supported by other evidence;
• screenshot or export from the wallet interface;
• transaction history connecting the user to the address;
• information from another regulated provider.

Only use the method shown by Quppy or the provider.

Never provide:

• private key;
• seed phrase;
• recovery phrase;
• full wallet backup;
• remote access to the wallet;
• live 2FA code.

Why can an incoming deposit be reviewed?

An incoming deposit can be reviewed when:

• Travel Rule information is missing;
• the sender is not identified;
• the address has risk indicators;
• the asset or network is not supported;
• the deposit is inconsistent with expected activity;
• source-of-funds information is needed;
• the transfer comes from a mixer, privacy-enhancing service, sanctioned source or high-risk platform;
• the transaction path requires clarification;
• the provider needs to establish whether the wallet belongs to the user.

A blockchain confirmation does not eliminate these provider checks.

Why can an outgoing withdrawal be reviewed?

An outgoing transfer can require review to confirm:

• the beneficiary;
• the destination provider or wallet type;
• the purpose of transfer;
• ownership/control of a self-hosted address;
• Travel Rule information;
• account security;
• source of funds;
• compliance with country and asset restrictions.

An unexpected new destination or a materially different transaction can trigger additional checks.

What should I do if I do not know the sender?

Do not invent information.

• Ask the sender for their legal name and sending platform.
• Preserve the transaction hash and communication.
• Do not return crypto to an address supplied in an unsolicited message without verifying the situation.
• Contact Quppy Support through an official channel.
• Explain that the transfer was unexpected if that is true.

Unknown deposits can be fraudulent, mistaken or designed to create risk. Do not spend or forward the assets until the status is clarified.

Can Quppy refuse a wallet or provider?

Yes. A transfer can be unavailable, delayed or rejected if the destination or source:

• is unsupported;
• is in a restricted jurisdiction;
• is associated with sanctions or prohibited activity;
• does not provide required Travel Rule information;
• presents risk outside the provider’s acceptance criteria;
• uses an unsupported asset or network;
• cannot be sufficiently identified.

Quppy does not promise compatibility with every wallet or exchange.

How should I protect my information?

• Enter information only in Quppy or an approved provider flow.
• Check the website/app independently instead of following an unsolicited link.
• Share only the information requested.
• Do not put personal information in a public blockchain memo.
• Never disclose private keys or authentication secrets.
• Review the relevant Privacy Notice for data recipients and retention.